Bain to announce Japan's Bellsystem24 buy: report

AlisonTudor

TOKYO (MarketWatch) -- Private-equity firm Bain Capital LLC is set to announce the acquisition of Japanese telemarketer Bellsystem24 Inc. from Citigroup Inc.
C, -1.64%
by Monday, according to a person familiar with the matter, in a deal valued at more than $1 billion.

Earlier this month Boston-based Bain won exclusive negotiation rights to buy Bellsystem24, beating other private-equity firms, including Permira Advisors LLP, CVC Capital Partners Ltd. and Blackstone Group. The asset is being sold by Citigroup's Japan private-equity arm, previously known as Nikko Principal Investments, which is now called Citigroup Capital Partners Japan. Nikko Principal bought Bellsystem24 in 2004.

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